The market crossed US$ 1.50 billion mark in 2022 and is expected to hit US$ 2.23 billion by 2030, recording a CAGR of 4.9% during the forecast period.
Fumed silica market has been significantly growing with higher demand form pharmaceutical industry.
Unique properties of fumed silica and multiple application, increasing demand for use in cosmetic industry and increasing construction and infrastructural spendings are some of the major factors driving the growth of the market. The silicone elastomers segment is expected to pace up with its wide application in variety of products such as undergarments, sportswear, and footwear; electronics; voltage line insulators, cooking, baking, and food storage products; medical devices and implants; and in household gaskets and O-rings. Some silicone elastomers are also used in the manufacturing of sealants.
Within the report, the market is segmented into type, application, end use and geography. By type, the market is further segmented into hydrophilic and hydrophobic. On the basis of application, the market is segmented into paint and coating, adhesive and sealants, silicone elastomers, UPR & composites, and others. By end use, the market is categorized into automotive, building & construction, electrical & electronics, personal care, pharmaceuticals, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing demand in paint, coating, and sealant industries has empowered the growth of futuristic innovations.
Fumed silica is an amorphous substance that is obtained in the flame during the process of breaking down of silicon due to the reaction of water. Fumed silica or pyrogenic silica have an effective strong thickening effect due to small and low weight structure. The demand for paint and coating has surged globally due to industrialization in various sectors, has surged the demand for fumed silica in paints and coating, and sealants industries. Physical properties of fumed silica such as hixotropic behavior, gives sag-specific, and others has surged its demand in industries during the forecast period.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries for fumed silica are automotive, building & construction, electrical & electronics, personal care, pharmaceuticals, and others. Within these industries, building and construction industry is one such industry, wherein the use of fumed silica is increasing owing to its wide application in building and construction industry including pipes, ducts, electrical wiring within building walls and ceilings, architectural coatings, basements, glazing frames, ceiling joints, floors, roofs, external walls, cladding, retaining walls, bathroom components and fixtures, corrosion-resistant tanks, cultured marble, panels for floor and walls, sanitary-ware, and tanks. The automotive industry has also witnessed an extensive use of fumed silica.
Recent strategic developments in fumed silica market
The fumed silica market has undergone several significant developments, and a few of these have been mentioned below:
The fumed silica market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Evonik Industries AG, Cabot Corporation, Wacker Chemie AG, Tokuyama Corporation, and Applied Material Solutions Inc. are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of:
Companies profiled
- Evonik Industries AG
- Cabot Corporation
- Wacker Chemie AG
- Tokuyama Corporation
- Applied Material Solutions Inc.